Fidelity Bank Ghana reported robust financial results for 2024, demonstrating resilience despite Ghana’s difficult economic climate.
At its May 30 Annual General Meeting, the bank announced a 15% increase in operating income to GHS 2.34 billion and a 4% rise in pre-tax profits to GHS 1.21 billion.
Board Chairman James Reynolds Baiden credited the performance to prudent risk management, noting the bank withstood multiple challenges including Ghana’s Eurobond haircut and tighter cash reserve requirements. Total assets grew 28% to GHS 22.11 billion, while deposits surged 40% to GHS 17.65 billion. The bank maintained a healthy capital adequacy ratio of 19.55% and kept non-performing loans below 10%, outperforming industry averages.
Managing Director Julian Opuni highlighted strategic achievements including enhanced digital capabilities and SME lending frameworks. “Our fintech partnerships expanded access to underserved markets, particularly in the informal sector,” he said. The bank also advanced its sustainability agenda through green finance initiatives and plans to launch a creative economy fund.
Shareholders approved a GHS 8.0 per share dividend, reflecting confidence in the bank’s trajectory. Fidelity Bank’s 2024 performance earned multiple international recognitions, including Best SME Bank and Best ESG Bank awards.
As Ghana’s largest indigenous private bank, Fidelity’s stability signals strength in Ghana’s financial sector amid ongoing economic recovery efforts.
